Babel Finance, a Hong Kong-based wholesale crypto financial services provider, announced that it has raised a US$80 million Series B financing round at a valuation of US$2 billion.
The main investors in this round include Jeneration Capital and 10T Holdings, as well as existing shareholders Dragonfly Capital and BAI Capital.
Other investors include Circle Ventures and a number of family offices in the Asia-Pacific region.
Babel Finance’s major businesses are crypto lending and trading, with a focus on serving institutional clients, including crypto-native institutions, traditional financial institutions such as banks and investment funds, as well as ultra-high-net-worth accredited investors and family offices.
Since the firm’s US$40 million Series A funding in May 2021, Babel Finance’s team has grown from around 50 people to over 170 currently.
The firm has opened a new office in Singapore and applied for relevant licenses in Hong Kong, Luxembourg, the United Kingdom, and other countries around the world.
“As the crypto financial industry becomes more institutionalized, our mission at Babel Finance is to explore and participate in the building of the fundamental financial order and rules for the industry. By doing so, we contribute to its long-term development as we ourselves grow.”
said Del Wang, Co-founder and CEO of Babel Finance.
